Engine Capital acquires a stake in C&C Group, urging a strategic review and potential sale.
Activist investor Engine Capital acquires 4.9% stake in C&C Group, makers of Bulmers cider and Magners, urging the company's board to initiate a strategic review process with a goal of selling the business. Engine Capital believes C&C is undervalued and could be an attractive target for industry players or private equity firms. The company recently announced a €150m impairment charge and the departure of its CEO.
June 24, 2024
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